Disqualifications for appointment of Director or Associate Director

1. (1) A person shall be disqualified for being appointed as a “(Director or co-opted as an” (Associate Director) of the Board, if he Director
   • (a) has been convicted by a criminal court at any time after the 26 th January,1950, for an offence, involving moral turpitude, unless such conviction has been set aside;
   • (b) is an undischarged insolvent;
   • (c) is of unsound mind;
   • (d) is an officer or employee of the Board;
   • (e) has directly or indirectly, by himself or by any partner, employer or employee, any share or interest in any contract or employment with, by or on behalf of, the Board;
   • (f) is a Director or a Secretary, Manager or other officer of any incorporated company which has any share or interest in any contract or employment with, by or on behalf of, the Board.
2. (2) If any question, dispute or doubt arises as to whether or not any person is eligible for (directorship) of the board or has incurred any disqualifications, whether before or after becoming a (director),it shall be determined by the Government whose decision shall be final.
3. (3) A person shall not be disqualified under clause
   • (e) or clause (f) of sub section
     • (I) or be deemed to have any share or interest in any contract or employment within the meaning of these

clauses, by reason only of his or the incorporated company of

which he is a Director, Secretary, Manager or other officer, having a share or interest in-

1. (i) any sale, purchase, lease or exchange of immovable property or any agreement for the same;
2. (ii) any agreement for the loan of money or any security for the payment of money only;
3. (iii) any newspaper in which any advertisement

relating to the affairs of the Board is inserted;

1. (iv) the occasional sale to the Board, if the sum paid as consideration does not exceed two thousand rupees in any one year, of any articles in which he or the incorporated company regularly trades,